Business owner’s policy (BOP)

Business owner’s insurance from $41.67 a month

Most small business owners need more than one insurance policy. Trouble is, working out exactly what coverage you need takes time. And when you’re buying the policies separately, the cost can seriously add up.

The good news is you could buy a business owner’s policy (or BOP) instead. It comes with general liability and property insurance as standard. Plus, a choice of optional add-ons designed with small business owners in mind.

Not only can you customize a BOP to suit your business, it usually works out cheaper than buying the policies separately. And, because it acts as one policy, it’s easier to manage too.

Why waste time and money when a BOP can save you both?

• What doesn’t a BOP cover?

  A business owner’s policy won’t protect you from every risk your business faces. Depending on the nature of your business, there are other policies you might want to consider:

  
  Professional liability insurance

  If clients pay you for advice or a service, you need professional liability insurance. Also known as errors and omissions insurance, (E&O) it protects your business from the cost of negligence suits.

  If someone claims you made a mistake, or gave the wrong advice, professional liability insurance can pay your legal defense fees and compensation, if it’s due. Even if the claim is groundless.

  You can get a quote online for professional liability insurance and a BOP at the same time. Just click to add the coverage when prompted.

  
  Workers’ compensation insurance

  Most states require you to carry workers’ compensation insurance even if you have only one employee. But it’s good to have anyway. It protects you from the cost of workplace injuries, which can be crippling.

  To get a quote for workers’ comp insurance, call us at 978.344.4215.

  
  Cyber liability insurance

  If you use email, own a website, or store client data, cyber insurance is a must. It can’t stop a cyber-attack, but it can give you the tools and support to help you deal with one. And pay your recovery costs.

  For a no-obligation quote call us at 978.344.4215.

• Who can get a business owner’s policy?

  We can cover most industries, including:

  • Architecture and engineering
  • Business services*
  • Consulting
  • Creative and design
  • Financial services
  • Health, beauty and fitness
  • Legal
  • Marketing and pr
  • Technology

  *including event planning, life coaching, travel agencies, translators, travel agents and tutors.

  But don’t worry if you don’t see your industry on this list. We may still be able to cover you. Call us at 1-866-446-4081 to find out.

  Our business owner’s policy is currently available in 20 states. View our map for details.

• How much does a business owner’s policy cost?

  Although it usually works out cheaper than buying each policy separately, the cost of a BOP varies from business to business.

  Prices start from as little as $41.67 a month. But the amount you’ll pay will depend on:

  • Where your business is based
  • The size of your business
  • Which industry you’re in
  • What services you offer
  • The coverage limits you select
  • Your deductible (the amount you’ll contribute if there’s a claim)

  And there are payment options available. You can spread the cost of your BOP by paying in monthly installments (with no added fees). Or pay in one lump sum, if you prefer.

  There are ways you can save money on your business owner’s policy, too.

• How to save money on your business owner’s policy

  • Choosing to pay a higher deductible (the amount you contribute to the cost of a claim) will reduce the price of your policy. Just be sure you can afford to pay this amount if there’s a claim.
  • Buy more than one policy from this insurer and you’ll get up to 5% off the price. A BOP doesn’t include professional liability insurance, for example. So if that’s a policy you need, buy it along with your BOP to save yourself some cash.
  • Do you run your business from home? If so, you’ll pay less for your BOP. Home-based businesses can save up to 10% on the price of a policy.
  • How well do you manage your business risk? Good risk management is rewarded with lower rates. For help with this download our handy guide.

• Who needs a BOP?

  You’ll find more on who needs a business owner’s policy, as well as a handy price comparison chart, on our blog.

  But as a general rule, you should think about protecting your business with a BOP if:

  • You run your business from property you own or rent
  • You have expensive tools or equipment you regularly take out of your office
  • You visit with clients or they come to you